Soo Visual Arts Center Inc

Analysis

Soo Visual Arts Center Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 1999, 27 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Soo Visual Arts Center Inc reported income of $249k and spending of $282k, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $250k to $249k (-0.4%), an average of -0.1% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Soo Visual Arts Center Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within MN. Charities of a similar size with the same main cause include Vienna Jammers Percussion Ensemble Inc ($249k), Rolls-Royce Foundation ($249k) and Cape Ann Symphony Orchestra Inc ($249k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $70k (25% of expenses). Other salaries and wages came to $76k. At year end it held assets of $78k against liabilities of $70k, net assets of $7,538. It reported 5 employees.